Swedish Piab Group acquires TAWI Group, provider of logistics lifting systems. With the acquisition, Piab Group aims to become the global market leader in ergonomic lifting products.
TAWI Group is expected to record revenues of SEK 340 million (€32 million) in 2019. The acquisition of the company, which is also from Sweden but also operates in the Netherlands, is due to be completed this month. Customers, products and employees will be transferred to Piab Group.
Piab Group develops vacuum solutions for various sectors, including logistics. "TAWI is a perfect fit for our company," says Clas Gunneberg, CEO Piab Group. "The market for smart and ergonomic solutions is growing rapidly thanks to manual lifting processes being automated." David Collings, VP Ergonomic Handling division of Piab Group continues: "Improving employee welfare is an ever-growing priority for employers around the world. With the acquisition of TAWI, Piab offers even more solutions to create an effective and safe working environment."
